The new industrial revolution and wages

Bibliographic data

Monograph

Identifikator:: 1804651486

URN:: urn:nbn:de:zbw-retromon-193069

Document type:: Monograph

Author:: Lauck, William Jett http://d-nb.info/gnd/173237126

Title:: The new industrial revolution and wages

Place of publication:: New York

Publisher:: Funk & Wagnalls

Year of publication:: 1929

Scope:: ix, 308 S.; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter IX. Increased consumption and prospertity accepted as an outgrowth of lower costs and higher wages

Collection:: Economics Books

216 INDUSTRIAL REVOLUTION AND WAGES Fourthly, by intelligent aiding of every sound enterprise and every forward step in mass production and mass distribution, so that good-management and good labor relations may result in high wages, low prices and equitable profits—objects which can surely be realized—through improved large-scale produc- tion, which also insures the ability to export the inevitable surpluses profitably to the other countries of the world, in- stead of creating supercompetition at home with its certain bad results to labor and capital. The American Federation of Labor, as pointed out in the preceding chapter, has fully accepted the challenge of in- creased production as the basis for wage advances and to this has added the claim that the well-being of trade and industry depends upon constantly adding to the purchasing power of the wage-service. President William Green has given expression to this point of view as follows :* Isn't it the plainest of common sense? Increase his effi- ciency and his earnings and you increase his consumption. The wants of the laboring man are never gratified. He always wants more of the goods of life, because the laboring man’s purchasing power is never at a high level as is that of the well-to-do. Pay him more and he will buy more, for pur- chasing power is always regulated by earning power. I am for the five-day week, which we have made a Federa- tion policy, because it will give labor still more of the good things of life and increase prosperity generally. Neverthe- less, I firmly believe that labor must produce more, to merit this advance. This is a position further in advance than any position we have ever taken before in organized labor. The best interests of the wage-earners, as well as the whole social group, are served by increasing production in quantity and quality, and by high wage standards, which sustain the coun- try’s buying power. We oppose wage reductions in prin- ciple; but, on the other hand, we are keen about increased production and the elimination of waste and friction. ""1The New Age, 1928, article by George Mansfield, entitled “Green: A Study of the Man Himself and His Peculiar Seat of Power.”

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